The Global PE First Look XLS was updated on October 7, 2025, to remove incomplete data.
Robust dealmaking alongside increased exit activity positions PE to end the year on a high note
Following the increased uncertainty in Q2, headwinds are beginning to turn into tailwinds for many PE sponsors. PE deal and exit activity are both pacing for another year of growth as sponsors take advantage of lower rates, greater market clarity, and more to complete deals and exits.
PitchBook’s Q3 2025 Global PE First Look—the data-only forerunner to our quarterly US and European PE Breakdown reports—shows that global PE deal activity remains robust, exit activity is starting its own acceleration, and fundraising activity is struggling to keep pace. Q3 deal value remained elevated as sponsors continued to execute large-scale deals, including the $55 billion take-private of Electronic Arts. On the exit side, more sponsors are returning to the market to sell portfolio companies after a wait-and-see period where sponsors sought greater market clarity.